Day: May 15, 2023

Zimbabwe sells millions of gold-backed crypto tokens despite IMF warning

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The Reserve Bank of Zimbabwe has sold 14 billion Zimbabwe Dollars’ worth of gold-backed digital tokens worth around $39 million despite a warning from the International Monetary Fund. On May 12, the central bank of Zimbabwe announced that it had received 135 applications valued at ZW$14.07 billion to buy the gold-backed cryptocurrency. The Zimbabwe dollar is officially trading at 362 ZWD to USD according to XE.com (but much higher on the street) making the stash worth around $38.9 million. The crypto tokens, first introduced in April, are backed by 139.57 kilograms…

OpenAI CEO in ‘advanced talks’ for $100M Worldcoin funding: Report

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OpenAI boss Sam Altman is reportedly in “advanced talks” of securing $100 million funding for Worldcoin, a project aimed at creating a collectively owned and globally distributed cryptocurrency. A Financial Times report published on May 15 cited sources with knowledge of Worldcoin’s funding talks, stating that the $100 million will be sourced from a mix of “existing and new investors.” When it was first revealed to the world, the startup boasted a Series A funding round led by a16z, with investors that also included Digital Currency Group, Coinbase Ventures as…

China, France to Deepen Ties Following Meeting of French President Macron and Chinese Leader Xi Jinping – Economics Bitcoin News

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Chinese and French foreign ministers have expressed readiness to strengthen cooperation and pursue a “close and enduring comprehensive strategic partnership,” according to China’s Ministry of Foreign Affairs. This followed a “successful” meeting between French President Emmanuel Macron and Chinese President Xi Jinping. China and France to Strengthen Relations State Councilor and Foreign Minister Qin Gang held talks with French Minister for Europe and Foreign Affairs Catherine Colonna in Paris last week, according to a statement by China’s Ministry of Foreign Affairs. According to the Chinese foreign ministry, both Qin and…

Jack Butcher Releases Checks Elements NFT Collection and Prints

“Elements are conceptually … the first instance of decentralized consensus,” Butcher told CoinDesk. “We’re trying to play into the themes that Checks is trying to express about consensus on the internet to pre-internet consensus, which is that all of these different cultures, languages, parts of the world, different schools of thought around how the world came to be … all landed on these four categories of matter – earth, water, air and fire.” Source

Bitcoin addresses holding 1 BTC or more reach one million: Glassnode

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The number of Bitcoin (BTC) wallet addresses holding one whole BTC or more has surpassed the one million mark.  The one million wholecoiner milestone was reached on May 13, according to data from Glassnode. Number of Bitcoin wallets holding more than 1 Bitcoin since inception. Source: Glassnode. As the price of Bitcoin fell more than 65% over the course of last year, the number of wallet addresses holding one Bitcoin or more spiked, with the most notable surges occurring during an acute market crash in June and from November 11,…

SEC revises $22M punishment against LBRY, seeks $111K instead

The United States securities regulator is seeking to revise its $22 million punishment against decentralized content platform LBRY, acknowledging it is unlikely to be able to cough up the funds to be able to pay it.  In a May 12 filing in a New Hampshire District Court, the Securities and Exchange Commission (SEC) sought an amendment to its request for remedies in its successful case against LBRY. Instead of seeking the original $22 million — the amount it claims LBRY gained from the sale of its token LBRY Credits (LBC),…

US Default Could Spark Global Financial Crisis – Economics Bitcoin News

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Harvard economics professor Kenneth Rogoff, who previously served as the chief economist at the International Monetary Fund (IMF), has warned that the U.S. defaulting on its debt obligations could spark a global financial crisis. “It’s a very perilous situation and we are in unknown waters,” he warned. Harvard Professor of Economics Kenneth Rogoff on U.S. Default and Global Financial Crisis Harvard economics professor Kenneth Rogoff shared his view on the U.S. economy, a possible U.S. default, and a global financial crisis in an interview with ET editor Srijana Mitra Das,…